time factor of capital 中文意思是什麼
time factor of capital
解釋
資金的時間因素-
On the one hand, the author discusses markowitz ' s mean - variance portfolio selection model, single - index portfolio selection model, and simplified model of optimal portfolio selection. at the same time, based on the rules of optimal portfolio selection and other risk - metric indices, the author also discusses mean - absolute deviation model, mean - semivariance model and mean - value at risk model. on the other hand, the author discusses the asset pricing model, including the capital asset pricing model ( capm ), the multi - factor asset pricing model, and the arbitrage pricing model ( apt )
一方面，作者討論了馬科維茲的均值-方差資產組合選擇模型、單指數資產組合選擇模型、最優資產組合選擇的簡化模型，同時根據最優資產組合選擇原則和其他風險度量指標，討論了均值-絕對離差、均值-半方差和均值-風險價值資產組合選擇模型；另一方面，作者討論了資產定價模型，包括多因素資產定價模型和套利定價模型，特別是在四種因素變量的基礎上，探討多因素資產定價模型。 -
The main customers all concentrate on the state - owned enterprise, the asset - liability ratio of the state - owned enterprise is relatively high, the capital can ’ t be supplemented for a long time. ( 2 ) market risk, it means the proxy of the bank will fluctuate when the market price factor changes
湖南工行的授信程序，存在信貸審查報告流於形式問題;同時，大量受信客戶具有相類似的風險特徵，主要客戶都集中於國有企業，國有企業的資產負債率較高，資本金長期以來得不到補充。 -
As the home and foreign economists further research, they blaze new trails and make the theory of human capital perfect. at the mean time, the theory of new economic growth develops vigorously. many economic models, including " learning by doing ", are created on the foundation of human capital theory and bring the factor of human capital in
著名經濟學家舒爾茨首先提出了人力資本的概念，對經濟發展的動力做出了不同於傳統經濟理論的全新的解釋，隨著國內外眾多經濟學家進一步的研究，人力資本理論得到了不斷的完善與創新；同時，新經濟增長理論也蓬勃發展起來， 「邊干邊學」等理論模型都是基於人力資本理論而建立，把人力資本的因素納入到了經濟增長的模型中去的。 -
At the same time, we also should realize that chinese real estate market is immature and it does n ' t match to the real estate characteristic of scale - intensive and capital - intensive. capital has become the leading factor for the real estate enterprises to limit their development in the competition. chinese real estate enterprises have come into the times of the capital competition
同時也應該認識到，我國房地產行業雖然經過了近20年的不斷發展，但從整體上看我國房地產市場仍然不是一個成熟市場，產業集中度非常低，房地產企業持續開發和規模化運作的能力較弱，總體呈現出「小作坊」的特點，這與房地產規模型、資金密集型的行業特徵不相適應。 -
Practices of venture capital in china have shown : 1 ) venture capital industrial is lack of fund, fine system, preferential polices and laws, medium - organization and the capital market such as ipo ( initial public offering ) and the second - board share market where investors can sale the shares. that is to say, the development of venture capital industrial in china lacks of preferential macro - scope environment. so the unfit government behavior is the mam restrictive factor. 2 ) venture capital industrial is wholly controlled and practiced by the government, which is the main investor of venture capital organization, while there is not outstanding achievement both theory and practice have shown : venture capital industrial will not succeed if government is the main investor for a long time
具體體現為： （ 1 ）相當多的風險投資機構運作困難，效益低下，大多數都違背了設立的初衷； （ 2 ）風險投資資金缺乏，來源單一，總量不足； （ 3 ）風險投資者的利益得不到保護，導致投資者積極性不高，加劇了風險資本的匱乏； （ 4 ）風險投資在投資、融資和實現回報等各個環節的障礙很多，無法實現良性循環，造成風險投資的成本和風險過高，收益偏低； （ 5 ）風險投資發展中政企不分，缺乏現代企業制度中的激勵機制和硬預算約束機制，投資成功率低。
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